It works for me, BUT you can only "ask" it to do one thing at a time, ask just once, and then wait. There's a circle in the upper right hand corner which serves as an hourglass 'please wait, I am working ...' ànd if that's rolling, don't touch anything. Yes it's slow but aside from that, I find it to be a better reading experience than the original. I love the cool page swipes, landscape mode and magazines work for me too. If I could get my side loaded books I'd be all set! I am not sure which version I am running, I know it's neither the first nor the latest. so to 'sumup' yes it's a good experience if you're not from the northeast. If you're from anywhere north of DC and east of Pennsylvania don't bother,you'll always get a force close
This won't make you feel any better, but I've only had the performance problems that others report.
I ran CM7 off the SD card for months but installed on emmc a couple of weeks ago. No problems, no real operational difference.
Running an overclocked kernel really helps the Nook app's performance, too.